Orleans Energy Ltd.
TSX : OEX

Orleans Energy Ltd.

May 10, 2011 21:03 ET

Orleans Energy Announces Approval of Plan of Arrangement and Name Change

CALGARY, ALBERTA--(Marketwire - May 10, 2011) -

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Orleans Energy Ltd ("Orleans" or the "Company") (TSX:OEX) is pleased to announce that it has received shareholder and court approval of its previously announced acquisition of RMP Energy Ltd. ("RMP") pursuant to a plan of arrangement (the "Arrangement") and shareholder approval of its name change to "RMP Energy Inc." (the "Name Change").

At the annual and special meeting of holders ("Orleans Shareholders") of common shares of Orleans held on May 10, 2011 (the "Orleans Meeting"), Orleans Shareholders holding approximately 99.6% of the common shares of Orleans entitled to vote at such meeting voted in favor of the resolution to approve the Arrangement. In addition, at a special meeting of holders ("RMP Shareholders") of common shares of RMP, first preferred shares, series A-1 of RMP and first preferred shares, series A-2 of RMP (collectively, the "RMP Shares") held on May 10, 2011, RMP Shareholders unanimously voted in favor of the resolution to approve the Arrangement. The Arrangement received the final approval of the Alberta Court of Queen's Bench on May 10, 2011.

At the Orleans Meeting, Orleans Shareholders holding approximately 99.8% of the common shares of Orleans entitled to vote at such meeting also voted in favor of the resolution to approve the Name Change.

Details in respect of the resolutions passed at the Orleans Meeting are available on Orleans' SEDAR profile at www.sedar.com.

Closing of the Arrangement and the filing of the Name Change is expected to occur on May 11, 2011.

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